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Contents

Long Title

Part I PRELIMINARY

Part II CONDUCT OF INSURANCE BUSINESS

Division 1 — General restriction on insurers

Division 2 — Licensed insurers

Deposits, registers of policies and insurance funds

Division 3 — Authorised reinsurers

Part IIA FOREIGN INSURER SCHEMES

Part IIB INSURANCE INTERMEDIARIES

Division 1 —  General provisions relating to insurance intermediaries

Division 2 —  Conduct of insurance broking business

Part III RETURNS, INSPECTIONS AND INVESTIGATIONS, WINDING UP AND TRANSFERS OF BUSINESS

Division 1 — Returns

Division 2 — Inspections and Investigations

Division 3 — Powers where licensed insurer or insurance intermediary is unable to meet obligations, etc.

Part IIIA ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part IIIAA TRANSFER OF BUSINESS AND SHARES, RESTRUCTURING OF LICENSED INSURER AND WINDING UP

Division 1 — Voluntary transfer of business

Division 2 — Compulsory transfer of business

Division 3 — Compulsory transfer of shares

Division 4 — Power to restructure capital

Division 5 — Winding up

Division 6 — Miscellaneous

Part IIIB APPEALS

Part IIIC NOMINATION OF BENEFICIARIES

Part IV MISCELLANEOUS AND GENERAL

Division 1 — Administration and enforcement

Division 2 —  Miscellaneous amendments of law

Division 3 —  Supplementary

FIRST SCHEDULE Definition of Insurance Terms

SECOND SCHEDULE Specified Provisions

Legislative History

Comparative Table

 
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On 31/07/2014, you requested the version in force on 31/07/2014 incorporating all amendments published on or before 31/07/2014. The closest version currently available is that of 01/01/2014.
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Representation by insurance intermediary
35R.
—(1)  No insurance intermediary shall, with intent to deceive, make a false or misleading statement as to —
(a)
any amount that would be payable in respect of a proposed contract of insurance; or
(b)
the effect of any provision of a contract of insurance or a proposed contract of insurance.
[41/2001]
(2)  A reference in subsection (1) to making a misleading statement includes a reference to omitting to disclose any matter that is material to a statement.
[41/2001]
(3)  No insurance intermediary shall, with intent to deceive, in relation to a proposed contract of insurance —
(a)
write on a form, being a form that is given or sent to an insurer, any matter that is material to the contract and is false or misleading in a material particular;
(b)
omit to disclose to the insurer any matter that is material to the proposed contract;
(c)
advise or induce the intending insured to write on a form, being a form that is given or sent to an insurer, any matter that is false or misleading in a material particular; or
(d)
advise or induce the intending insured to omit to disclose to the insurer any matter that is material to the proposed contract.
[41/2001]
(4)  No insurance intermediary shall, with intent to deceive, in relation to a claim under a contract of insurance —
(a)
fill up, in whole or in part, a form, being a form that is given or sent to an insurer, in such a way that the form is false or misleading in a material particular;
(b)
omit to disclose to the insurer any matter that is material to the claim;
(c)
induce the insured to fill up, in whole or in part, a form, being a form that is given or sent to the insurer, in such a way that the form is false or misleading in a material particular; or
(d)
advise or induce the insured to omit to disclose to the insurer any matter that is material to the claim.
[41/2001]
(5)  Any person who contravenes subsection (1), (3) or (4) shall, notwithstanding that a contract of insurance does not come into being, be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both.
[41/2001]
[23/2003 wef 01/01/2004]